By 2050, aquaculture production will need to grow by another 70 million tonnes to meet the world’s seafood demand. The consumption and dependency on seafood for well-being has never been this high.

Aquaculture presents a significant opportunity to enhance food security. Vietnam, the fourth largest aquaculture producer in the world, has demonstrated its potential, but the emergence of the aquaculture sector raises major concerns in the country. The role of entrepreneurs will be the key to creating necessary innovations for a sustainable aquaculture sector.

Shrimp farm. (Photo: ASC)

However, in order to realize ambitions and innovations for the sector, access to finance and capital is critically important. Finding bright minds and enabling them to realize their ambition by connecting them to finance and capital is the target of the Aquaculture Innovation Challenge.

The challenge is open for online and offline applications from 6 December 2016 until 18 February 2017. Finalists will be invited to an intensive business plan bootcamp and pitching event. The best business plans will be awarded a cash investment for initiating the business plan. Winners will be announced in June.

Shrimp farm. (Photo: umvietnamstudy.wordpress.com)

For this challenge, innovations and solutions are sought in three different categories:

·Design

·Demonstration

·Upscaling

Willem Schoustra, project manager for Blue Growth at the Dutch Ministry of Economic Affairs said, “Aquaculture has an enormous potential as a source of animal protein. There is one condition: we have to reach this potential in a sustainable way! The Dutch government is continuously exploring how to contribute best to the development of a sustainable aquaculture sector around the world. The Aquaculture Innovation Challenge is an opportunity to bring together innovation and finance to achieve this goal.”

Cultured freshwater fish represents more than 75% of the total annual production, of which pangasius contributes the biggest part. (Source: www.seafood-tip.com)

The United States are Vietnam’s biggest export partner, importing nearly US$ 1.7 billion of seafood products in 2014, accounting for 20% of total Vietnamese exports. (Source: www.seafood-tip.com)

About Aquaculture Innovation Challenge

The Aquaculture Innovation Challenge (AIC) main objective is to boast innovations by supporting individuals, organizations, companies, research institutes, universities and talented students with progressive ideas, innovations and solutions, but lacking the capital and finance. The AIC will give you the opportunity to connect to investors and sponsors to realize your ambitions.